PM: CPTPP a critical vehicle to expand investment

PM: CPTPP a critical vehicle to expand investment

17 Jan 2025

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade agreement is a critical vehicle to expand and facilitate investment and trade between Malaysia and the United Kingdom.

Prime Minister Datuk Seri Anwar Ibrahim said this was made possible by the move by both countries to enter the agreement.“In fact, I chose to express my appreciation to the United Kingdom premier for successfully entering the CPTPP agreement. It takes serious political commitment on the part of the United Kingdom and Malaysia, focusing on economic fundamentals in the interest of both nations to promote free trade,” he said here.

Anwar was speaking at the launch of the YTL Group’s Brabazon New Town development in Bristol, the largest city in the South West of England.

Malaysia ratified the CPTPP in October 2024, joining Peru, Japan, Singapore, Chile, New Zealand and Vietnam in doing so, while the United Kingdom formally joined last December. Under this framework, tariffs for products by member countries will be reduced to zero.

The premier also praised YTL, which is the largest Malaysian investor in the United Kingdom, for its resilience and for continuing to make strides in the country. 

Source: Bernama